Today because private bankers issue our nation's currency, they control the economy as well as the people. The Federal Reserve creates the money as a debt instrument. We the People thereby become debtors and the bankers become our creditors.
The government could allocate a trillion dollars to improve the infrastructure of this nation and employ hundreds of thousands of laborers using debt free currency. It would be created by the U.S. Treasury. Since this money is a result of the productive labor of the workers, there’s no borrowing. No borrowing, no interest paid. The whole thing becomes unnecessary.
In the Constitution; Article I, Section 8, Clause 5, Congress is given the power to coin money but, is not authorized to transfer that authority to any other agency or institution, private or otherwise. The word coin used in this article is a verb that authorizes Congress to create money. Money created by Congressional authority is debt free while the money created by the banking institutions is not.
According John Adams there are only two ways enslave a nation, the first is by conquering it militarily and the second way is to drown it in debt. It is clear in the second way that the borrower is also the servant of the lender.
The government of the United States spends 2.6 trillion dollars to service the debt. If Congress were to issue its own debt free currency we could reduce the cost of government by nearly 40% while at the same time lowering taxes, increasing employment, and ensuring the prosperity of the American people.
Byron Dale ... "you, clearly are just a born, dyed in the wool, hard core con-man"
Easy enough to say something is untrue. But, it's quite another to prove the accusation. What you call 'money', Byron, is in fact Notes and government admits to it. Unlike yourself, Mr. Dale, I'm prepared to prove my statements.
Title 18, United States Code, Section 8 states:
Section 8. Obligation or other security of the United States defined
The term “obligation or other security of the United States” includes all bonds certificates of indebtedness, national bank currency, Federal Reserve notes, Federal Reserve bank notes, coupons, United States notes, Treasury notes, gold certificates, silver certificates, fractional notes, certificates of deposit, bills, checks, or drafts for money, drawn by or upon authorized officers of the United States, stamps and other representatives of value, of whatever denomination, issued. (Emphasis Added)
'Representatives' of value are mere assertion (i.e.: ethereal, vacuous. imaginary, pretended). In the alternative, a commodity embodies value (relative supply-demand ratio) in and of itself by objectively derived rational juxtaposition against that of other things ... not mere government decree.
“The actual creation of money always involves the extension of credit by private commercial banks. They do this by simply making book entries for its loan depositors saying you have a deposit with us”. Department of the Treasury office of the General Counsel Washington DC Russell L. Munk.
“Money is created when loans are issued and debts incurred money is extinguished when loans repaid”. John B. Henderson, Senior Specialist in Price Economics, Congressional Research Service of the Library of Congress.
Why didn't you answer my question?
Byron Dale ..."creation of money always involves the extension of credit" ... "Money is created when loans are issued and debts incurred"
Yes Mr. Dale, these elitists are describing ... PAPER 'money' ... the PRETENSE of money ... a fiat, decreed REPRESENTATION of value.
So, you count yourself in their camp then?
Byron Dale ... "if what we use for money today has ethereal, vacuous value why do all the gold dealers work so hard to sell their gold to get some of it?"
Government itself tells you that the Notes you mis-perceive as 'money', are in reality only its contrived claim of 'value', which I'd proved separately.
Why gold dealing exists is also a result of government claims, entirely imposing a necessity of 'money-changing', otherwise unimaginable; which incited the sole recorded incident of Christ's rage, when it crossed the line into the Temple.
American Government (under original, ordinary jurisdiction) is Constitutionally authorized to declare what gold and silver weight of money it will use to settle its transactions with State or foreign counterparts, or directly with individuals.
By sheer audacity and persevering usage, it usurped The People's wholly antecedent Lawful, Natural Right to use their own, private versions of money in non-governmental transactions.
By stamping government insignia and proprietary names on coinage, it provides the 'service' of weight and fineness 'guaranty' and thus nexus to tax (collect a fee) on such 'benefit'. Ignorant of that fact, the gullible accept false assertions that such money must be used on all occasions universally, thus inadvertently making common trade a taxable event ... enormously expanding revenue to government by surreptitious feint.
Gold, silver and copper bullion ... in the form of handy disks, are Private Money under Common Law and Jurisdictions of The People, reserved at Art. I, Sec. 10, where "No State shall ... pass ... any Law impairing the Obligation of Contracts", further omitting any such Power to their Trust Administration.
Were 'government money' and Private money entirely identical (disks purely of metal in standard weights and fineness, absent all proprietary indicia), the occupation of 'Money Changer' wouldn't exist. It wouldn't even be conceivable.
I don’t perceive that a note (a promise to pay money) could ever be money.
Off you go again writing a lot of gibberish that has nothing to do with my question.
What we use for “money” is an accounting system (numbers). I am not saying it is money, but that is what this country is using for money and most of the people like it. I did a small survey today, asking 30 people (about half men and half women) if they had a choice between going back to using all metal coins for our total money supply or keep on using what we are using for money now, only 5 said that they would choose using coins.
Byron Dale ... "Off you go again writing a lot of gibberish that has nothing to do with my question."
I repeat, Mr. Dale, I'm quite content to leave a less biased decision on that point to the readers. Unlike yourself, I haven't constructed a literary and lecturing career on my contentions. I argue my points on a strictly intellectual basis.
BTW ... there's a fellow who produces numerous YouTube videos, 'deadpan' seriously asking random folks outrageously stupid questions and receiving pitifully ignorant answers. People are meticulously made ignorant and un-informed for easy plunder by elites. To use their sadly diminished capacities for your own selfish purposes ought to be dismissed out of hand ... which I do in this instance.
Some time ago you stated that you were having a hard time understanding the phase debt money. I thought maybe this would help.
What is meant by Debt Money? It is when “the actual creation of money (ALWAYS) involves the extension of credit from private commercial banks.” Russell Munk, U. S. Treasury. This means that all of our money is created by the banks when they make a loan. “You may want to know whether the bank is the one getting the benefit of the new money, since the bank owns the new money while the customer has merely borrowed the money. The bank does indeed get the benefit of the new money” Russell Munk, U. S. Treasury.
When all money is created and loaned into circulation, the interest always makes the debt greater than the money supply and grows constantly.. The interest debt grows with time. The money supply only grows with more another loan. This causes a constant and growing spread between the faster growing debt and the slower growing money supply, the money supply is also owed to a bank. The interest on the debt constantly causes the cost of doing business which causes a constant rise in prices, this is called inflation.
But I really have no idea why you feel the need to repeat all this to me. As I told you before, I read what you wrote and all the people you quoted. I don't need the lesson again, but thank you for reminding me of the details in the process. Although I may have professed a lack of direct knowledge about the details of the "banking" game, I only need to read something once to get it.
The problem is not that I don't understand the details of the con game Byron. The problem is that now that I have the details, I don't understand why we're still giving them safe keeping of our individual wealth.
The main thing that I have been trying to get across in this whole conversation is this. If I want, I can go down town, play my guitar and sing in the local saloon and people will give me trade notes that they value because I make them happier in a humdrum world. Even if they dropped loaves of bread or meat and candles into my basket, I would still be generating and transferring "wealth". THAT'S my point about "wealth", "money" or "currency". They are indistinguishable from me and my guitar. When I said I AM MONEY, that's what I meant. We are the economy, not the Banksters, not the government, not the police or the sheriffs, not the "financial elite". It is high time we all pulled our money out of the bank and for a whole bunch of other people to pull their heads outta you know where.
For more topics see these links.
Some time ago you talked about something happening in Washington D.C. I think it was May 16. I would
like to more about what that is all about. I hope you will be kind enough to fill me in.
No problem Byron, Its called Operation American Spring. Here's a link to their facebook page. https://www.facebook.com/OperationAmericanSpring.Target.Washington.DC
If you want to Google it; that should work too.
Also if you want go see these links too. I think you will find them interesting.